Penserra Capital Management LLC Raises Position in Onto Innovation Inc. (NYSE:ONTO)

Penserra Capital Management LLC increased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 41.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,417 shares of the semiconductor company's stock after purchasing an additional 33,696 shares during the period. Penserra Capital Management LLC owned approximately 0.24% of Onto Innovation worth $14,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock valued at $29,000 after buying an additional 151 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Onto Innovation in the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation in the 4th quarter valued at about $43,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Onto Innovation in the 4th quarter valued at about $47,000. Finally, Versant Capital Management Inc lifted its stake in shares of Onto Innovation by 165.0% in the 1st quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 386 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Oppenheimer dropped their price objective on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Benchmark dropped their price target on Onto Innovation from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Needham & Company LLC dropped their price target on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus dropped their price target on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.67.

Onto Innovation Trading Up 4.8%

Shares of ONTO stock traded up $4.72 during trading on Tuesday, hitting $103.42. The company's stock had a trading volume of 1,327,815 shares, compared to its average volume of 978,001. The company has a market cap of $5.05 billion, a PE ratio of 23.40, a P/E/G ratio of 0.68 and a beta of 1.45. The business has a fifty day moving average of $101.37 and a 200-day moving average of $137.89. Onto Innovation Inc. has a 52 week low of $85.88 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The business had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. During the same period in the prior year, the company earned $1.18 earnings per share. Onto Innovation's revenue was up 16.5% compared to the same quarter last year. As a group, research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.